A Washington, D.C.-area pastor and his wife were arrested on fraud charges for allegedly embezzling $1.2 million.
Victorious Life Church’s Terry Wayne Millender and his wife, Brenda, also ran an investment company called Micro-Enterprise Management Group.
MEMG alleged to help poor people in developing countries by providing small, short-term loans to start or expand existing businesses by working with a network of established micro-finance institutions, according to the Department of Justice.
“The indictment alleges that these representations were false and fraudulent, and that the money was actually used by the defendants to conduct risky trading on the foreign exchange currency market, options trading, payments towards the purchase of a $1.75 million residence for Terry and Brenda Millender, and other personal expenses for the defendants,” the DOJ reports. “To conceal how they had actually used the money, the defendants are alleged to have falsely assured investors that they would get their money back and blamed delays in repaying investors on the 2008 financial crisis, among other things.”
Those who knew the couple and the church were not surprised by the charges.
“It didn’t really come as a shock—it was more of a sigh of relief,” former church member Eric Brown told a FOX affiliate.
If convicted, the couple could face up to 20 years each in prison.
